To: All Subrecipients
Subject: Equipment Management
Effective Date: April 1, 2005
In conformance with Washington State Policy Number 3452, Property Management and Inventory, for Title I-B of the Workforce Investment Act, the Snohomish County Workforce Development Council ( WDC ) has developed this policy and these procedures for acquisition, management, and inventory of equipment.
Equipment : Tangible, non-expendable personal property having a useful life of more than one year and an acquisition cost of more than $5,000 and small and attractive items as defined below.
Small and Attractive Items : Tangible, personal property with an acquisition cost of $300 or more but less than $5,000 in the following categories:
Supplies : All tangible, personal property not classified as equipment
Fixed Assets : Assets (normally tangible but including several intangibles) acquired through donation, gift, purchase, capital lease, or self construction with a life expectancy of more than one year.
Each subrecipient is responsible for ensuring the management of all equipment obtained using WDC funding including WIA funds and Job Training Partnership Act (JTPA) funds.
Equipment Management and Inventory
• An item description;
• The serial and model number or other identification number;
• The source of property, including grant or agreement number;
• Acquisition date and cost; and
• Location, use, condition, and date the information was reported.
Each subrecipient will inform the WDC of any property that will no longer be used by the subrecipient by providing the WDC Inventory Manager with the following information in the attached REQUEST FOR DISPOSITION form:
No property may be disposed of without the express approval of the WDC in response to theREQUEST FOR DISPOSITION form submitted.